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U.S. Fed fines Deutsche Bank $156.6 million for forex violations
The U.S. Federal Reserve on Thursday fined Deutsche Bank AG (DBKGn.DE) $156.6 million for violating foreign exchange rules and running afoul of the Volcker Rule. The German bank failed to detect and halt its traders from using chat rooms to communicate with competitors, the Fed said in a statement. Central bank officials are "requiring the firm to cooperate in any investigation of the individuals involved in the conduct underlying the FX enforcement," according to the statement. In a statement, the bank said, "we are pleased to resolve these civil enforcement matters with the Federal Reserve." Separately, the Fed ... (full story)